Member Described Account
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Member Described Savings Account
- Savings account with your own custom name
- Competitive dividend rates
- $100 minimum to open and earn dividends
- Free online, mobile, and branch access
- Federally insured by NCUA
Please refer to Details and Rates tabs for additional information and important disclosures.
DCU's customer service is excellent. They offer excellent products and at very affordable prices.
— KK, Riverside, RI
Member Described Savings Account Details
- You choose the name of your saving account You can set up multiple accounts and give them names to help you identify what each is for. The names will appear on your DCU account statements and in Online Banking so you can easily organize your savings goals. You might name one Vacation for that upcoming trip of a lifetime or Wheels for the down payment on your next new car.
- Competitive dividend rates Compare DCU's Member-Described Account to bank statement savings accounts. Your dividends are compounded daily and paid monthly each day your balance is $100.00 or more.
- $100 minimum balance to open and earn dividends There are no monthly fees.
- Free online, mobile, and branch access – You can access your account 24 hours a day using any DCU ATM, Online Banking, and Easy Touch Telephone Teller. You can access your account in any DCU branch and make deposits online anytime with a scanner or camera in your smart phone by Online Deposit.
- Federally insured by NCUA – Learn more about insurance on all your savings at DCU and how to maximize your coverage.
*Federal Reserve Regulation D limits total phone or Online Banking transfers or withdrawals from all savings accounts into your checking account to six per month. Loan payment transfers, teller counter transactions, ATM transactions, deposits, and transfers into your account are unlimited.
Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from day of deposit to day of withdrawal, compounded daily and paid monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on this account. Refer to DCU's Truth-In-Savings Disclosure and Account Agreements and Schedule of Fees and Service Charges.
Please refer to Features and Rates tabs for more information.
Member Described Savings Accounts*
|Minimum/Terms||Dividend Rate||Annual Percentage Yield|
|Earned on entire balance when $100 or more||0.05%||0.05%|
Rates are effective .
*Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on these accounts. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges
Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate including the effects of compounding. For example, the APY on a 6-Month Certificate would be what you earned at the end of a year if you renewed your certificate once, did not add to or subtract from the balance along the way, nor withdrew any dividends.
Please refer to Features and Details tabs for more information.
Member described savings
Will I get a separate ATM card if I open a new Member described account? If not, how do I request for one?
How to delete or close a member described account ?
can i set-up direct deposit to member described account?
Are there monthly fees on a member described account, if a certain balance isn't maintained?
"Simple, fast and easy"
Opening an account was so easy and it took almost no time at all. Keeping track of my account is simple with online access as well as with the nearby branches and ATMs.
— KP09, Leominster, MA
Easy Ways To Open a Member Described Account
- Open Online – Opening a DCU Member Described Account is fast and convenient! Follow the simple step-by-step instructions and open your account in minutes online.
- By Phone – Call 800.328.8797 or 508.263.6700, (select 3).
- Visit a DCU Branch – Visit a local branch and open a DCU Member Described account. A Member Service Representative will assist you and be able to answer all your questions.
"I'm loving my savings account!"
Easy to open, friendly service. I'm happy I made the switch to DCU.
— MOMOF2BOYZ, Bedford, NH
- Other DCU Savings Accounts – View our other Savings Account Options and open online.
- DCU Checking Accounts – Stop paying big bank fees. Save hundreds with a DCU checking account.
- DCU Certificate Accounts – Earn higher interest rates than traditional Savings Accounts.
- Truth-in-Savings Disclosure (.pdf format) – Covers disclosures related to all DCU savings and checking accounts. DCU's Funds Availability Policies are covered here.
- About NCUA Insurance – Complete information and details about NCUA Insurance.
- Schedule of Fees and Service Charges – Details regarding member benefits that may help you avoid fees.
- Funds Availability Policy – This covers DCU's policies regarding holds on deposits.
- Update Contact Information Form (.pdf format) – For address, phone number(s), and/or email address changes.
- Change Name and/or Add Joint Owner to Existing Account Form (.pdf format) – For name changes and/or account ownership changes.
- Direct Deposit of Federal Recurring Payments (.pdf format) – Use this form to have DCU set up direct deposit of your Social Security or federal pension to your DCU account.
- Change of Ownership Authorization with Full Consent Application (.pdf format) – Use to remove a joint owner with their consent from any or all of your DCU accounts.
- Mail-in Deposit Form (.pdf format) – For mail-in deposits – Type, print and mail your own deposit slip from home.